According to CoinMarketCap, bulls are attempting to regain control of the market on the last day of the week. The price of Ethereum has increased by 1.86% since yesterday, but over the past week, there has been very little change. On the hourly chart, Ethereum has experienced a false breakout of the local resistance at $3,409, and if it continues to drop, there may be a test of the $3,375 support level. The overall situation on the larger time frame is neutral, with volume declining and no clear direction from buyers or sellers. Consequently, sharp price movements should not be expected in the near future. From a midterm perspective, it is too early to predict a reversal, despite the possibility of a bullish weekly closure. Ethereum is currently trading at $3,406.



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